Answer: The Production Possibilities Curve (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services. Points on the interior of the PPC are inefficient, points on the PPC are efficient, and points beyond the PPC are unattainable.
Answer: A low-cost provider strategy
Explanation:
The low-cost provider strategy is a marketing strategy where the marketer makes his product the lowest priced in a very competitive market while still being able to make profit.
The low-cost provider strategy would be the best sales strategy in a price competitive market, as it would draw most buyers to the seller.
Answer:
Tthe cost of goods manufactured is c. $122,000
Explanation:
The cost of goods manufactured = The beginning of work in process + Cost of materials used + Direct labor costs + Factory overhead - The ending of work in process.
Gunner Manufacturing has the financial records: Cost of materials used $45,000 Direct labor costs 48,000 Factory overhead 39,000 Work in process, beginning 18,000 Work in process, ending 28,000.
Therefore,
The cost of goods manufactured = $18,000 + $45,000 + $48,000 + $39,000 - $28,000 = $122,000
Answer:
Results are below.
Explanation:
<u>The weighted average method blends the costs and units of the previous period with the costs and units of the current period.</u>
Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production
Units completed= (3,200 + 200) - 400= 3,000
Equivalent units of production= 3,000 + 400*0.8
Equivalent units of production= 3,320 units
